NEW YORK (TheStreet) -- "I wish it were time to buy" certain stocks such as Transocean (RIG) - Get Transocean Ltd. Report and Vince Holdings (VNCE) - Get Vince Holding Corp. Report  -- but unfortunately, it's not, said TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.

Speaking during CNBC's "Cramer's Stop Trading" segment Tuesday, Cramer noted that shares of Vince Holdings slid 13% after reporting fiscal third-quarter earnings, despite beating on earnings per share and revenue estimates. Meanwhile, shares of Transocean have declined over 50% in the past three months, as oil prices have moved lower. Cramer noted the company may also have to cut its dividend payment. 

However, there is one stock investors can buy, Cramer said -- Stryker (SYK) - Get Stryker Corporation Report , which Goldman Sachs just put on its conviction buy list.

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"This is the kind of call that I just want to go with," even though the stock is at 52-week highs, he said. "I say, buy Stryker." 

-- Written by Bret Kenwell

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.